StockNews.com Begins Coverage on Cytosorbents (NASDAQ:CTSO)

StockNews.com assumed coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the medical research company’s stock.

Separately, HC Wainwright restated a neutral rating and set a $1.00 target price on shares of Cytosorbents in a report on Friday, March 15th.

Cytosorbents Price Performance

Shares of CTSO stock traded up $0.06 during trading hours on Thursday, hitting $0.88. 109,450 shares of the company’s stock were exchanged, compared to its average volume of 93,292. The stock’s 50-day moving average is $0.91 and its 200-day moving average is $1.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.77 and a quick ratio of 1.51. The stock has a market cap of $47.79 million, a price-to-earnings ratio of -1.38 and a beta of 0.62. Cytosorbents has a 52 week low of $0.78 and a 52 week high of $4.29.

Cytosorbents (NASDAQ:CTSO) last announced its earnings results on Thursday, March 14th. The medical research company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. The company had revenue of $8.67 million for the quarter, compared to analysts’ expectations of $9.29 million. Cytosorbents had a negative return on equity of 120.24% and a negative net margin of 78.43%. As a group, research analysts forecast that Cytosorbents will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Cytosorbents

Several hedge funds have recently added to or reduced their stakes in the company. Skylands Capital LLC boosted its holdings in Cytosorbents by 10.5% in the fourth quarter. Skylands Capital LLC now owns 3,254,213 shares of the medical research company’s stock valued at $3,612,000 after acquiring an additional 309,543 shares during the last quarter. Avenir Corp boosted its holdings in Cytosorbents by 12.3% in the fourth quarter. Avenir Corp now owns 3,051,402 shares of the medical research company’s stock valued at $3,387,000 after acquiring an additional 334,005 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Cytosorbents by 19.9% in the fourth quarter. Neuberger Berman Group LLC now owns 1,801,799 shares of the medical research company’s stock valued at $1,997,000 after buying an additional 299,103 shares during the period. Sargent Investment Group LLC lifted its stake in Cytosorbents by 4.1% in the fourth quarter. Sargent Investment Group LLC now owns 1,308,747 shares of the medical research company’s stock valued at $1,453,000 after buying an additional 51,699 shares during the period. Finally, Raymond James & Associates acquired a new position in Cytosorbents in the fourth quarter valued at about $56,000. Institutional investors own 32.87% of the company’s stock.

About Cytosorbents

Cytosorbents Corporation engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology in the United States, Germany, and internationally. Its flagship product is CytoSorb, an extracorporeal cytokine adsorber for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention, and treatment of perioperative complications, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant; and offers VetResQ, a device for adjunctive therapy in the treatment of sepsis, pancreatitis, and other critical illnesses in animals.